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Oil Heads for Weekly Loss as Hormuz Tanker Traffic Rebounds

Crude oil prices were on course for a sharp weekly loss amid multiple reports about a strong rebound in tanker traffic in the Strait of Hormuz.

Source OilPrice AI Summary Updated 2h 40m ago

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Crude oil prices were on course for a sharp weekly loss amid multiple reports about a strong rebound in tanker traffic in the Strait of Hormuz. At the time of writing, Brent crude was trading at $73.78 per barrel, and West Texas Intermediate was changing hands for $70.53, even after the news of an Iranian strike on a commercial vessel in Hormuz that, Tehran…

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